HSBC to price return enhanced notes linked to deliverable renminbi

By Angela McDaniels

Tacoma, Wash., March 13 - HSBC USA Inc. plans to price 0% return enhanced notes due March 31, 2014 linked to the performance of the deliverable Chinese renminbi relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.

If the reference currency return is greater than or equal to zero, meaning the renminbi has appreciated relative to the dollar, the payout at maturity will be par plus 500% of the reference currency return. If the reference currency return is less than zero, investors will be fully exposed to the decline.

HSBC Securities (USA) Inc. will buy the notes from the issuer for distribution to J.P. Morgan Securities LLC for resale.

The notes will price March 15 and settle March 22.

The Cusip number is 40432XCZ2.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.